obama's reelected much of this is going to get fixed. >> nariman, i give you the last word. do you agree with that? >> i have two disagreements. one that deleveraging continues if you look at things like household debt to disposable income numbers they keep going down. households are still deleveraging. the other issue we were able to go rapidly in the '90s and 2000s and import a lot. i don't blame globalization or trade the fact we're growing slowly. no. i think we're deleveraging. i think that is big factor for households and banks. >> we agree to disagree. melissa: good for you. thanks for coming on, guys. we appreciate it. have a great weekend. here to react to the october jobs report is phil angelides. he is obama surrogate, former head of the financial crisis inquiry commission. phil, welcome back to the show. >> good to be with you, melissa. melissa: go ahead and spin it for us. why is this a good report? >> let me start with something one of our guests was talking about. this was a trauma to the financial and economic system. if you look at the long history of climbs